Corner Victorian
New
For Sale
$399,000
4900 02 Laurel St, New Orleans, LA 70115
Two mirrored units retain historic finishes, private kitchens, attached laundry rooms, and central HVAC.
Property Size1,663 SF
Price / SF$239.93
Days on Market3
Property Features for 4900 02 Laurel St
General Information
Standard status
Active
Size
1,663 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Amenities
central air/heat
ceiling fans
washer/dryer hook-ups
laundry rooms
front porch
Building Details
Year Built
1900
Construction
Victorian
Listing Agency:
Riverside Realty, Inc.
(985) 307-1208
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 10 at 5:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Riverside Realty, Inc.
Investment Insights
Based on property information with market context.
Built in 1900, this two-unit Victorian property presents a mirrored layout on a corner site. Each side includes a front porch, double parlors, carved wood fireplace mantels, pocket doors, high ceilings, hardwood floors, stained glass windows, ceiling fans, insulated windows, central air and heat, a tiled bathroom, and a rear kitchen. Attached laundry rooms provide washer and dryer hookups. The property contains 1,663 square feet.
The duplex is located at 4900 02 Laurel Street in New Orleans, near Cherry's Cafe and two blocks from Magazine Street between Jefferson Avenue and Napoleon Avenue. Both units are occupied by long-term tenants, and neither tenant has a lease. The surrounding area includes boutiques, restaurants, and Mardi Gras activity.
The duplex is located at 4900 02 Laurel Street in New Orleans, near Cherry's Cafe and two blocks from Magazine Street between Jefferson Avenue and Napoleon Avenue. Both units are occupied by long-term tenants, and neither tenant has a lease. The surrounding area includes boutiques, restaurants, and Mardi Gras activity.
Key Highlights
- 1,663‑square‑foot duplex built in 1900
- Corner Victorian property with two mirrored units
- Historic details include hardwood floors, stained glass, pocket doors, and carved fireplace mantels
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,294
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$285,880
$285.9K
Cap Rate 7%
$204,200
$204.2K
Cap Rate 9%
$158,822
$158.8K
Market Conditions
NOI Build-Up for 1,663 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.4K $13.44/SF
− Vacancy
−$1.9K −$1.16/SF
EGI
$20.4K $12.28/SF
− OpEx
−$6.1K −$3.68/SF
NOI
$14.3K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$285,880
Cap Rate 7%
$204,200
Cap Rate 9%
$158,822
Alternative Uses
Best Use
Multifamily LT 5
$204.2K
$178.7K – $238.2K
NOI $14,294 @ 7.0% cap · market cap 3.58%
Second Best
Apartment 5plus
$181.0K
$158.4K – $211.2K
NOI $12,671 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$438.7K
$383.9K – $511.9K
NOI $30,712 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,446
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two mirrored units retain historic finishes, private kitchens, attached laundry rooms, and central HVAC.
Where is this duplex located?
The property is located at 4900 02 Laurel St New Orleans, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,663‑square‑foot duplex built in 1900; Corner Victorian property with two mirrored units; Historic details include hardwood floors, stained glass, pocket doors, and carved fireplace mantels
